Estonian fintech Tuum raises €15m to bring banking up to speed
Summary
Estonian fintech startup Tuum announced a €15m Series A funding round today as it looks to strengthen its European presence, while also investing in product innovation and preparing for expansion beyond Europe. It was founded in 2019 by a group of Estonian financial IT professionals, with decades’ worth of combined experience in digitising and transforming large Nordic banks. “We have such a strong background, so much knowledge in this industry, and we are so sure that we can achieve a lot,” Vilve Vene, Tuum’s CEO and cofounder, tells Sifted. “We see that banks are ready to move forward on their core system,” Hélène Falchier, partner at Portage Ventures, tells Sifted. “When we raised our seed round in December 2020, we used that money to grow our team, to enhance the product and commercial side,” says Vene.